CARES Act - Stimulus Payment Information
Economic Impact Payments:
On March 27, 2020 the president signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The two trillion dollar aid package is designed to lend financial aid to families and businesses impacted by the COVID-19 pandemic.
$290 billion of the package is marked for direct payments to eligible taxpayers. The CARES Act sends a one-time payment of up to $1200 per qualifying individual, $2400 per qualifying couple, and an additional $500 per child under the age of 17 for qualifying families. These payments will rely on information from either your 2018 or 2019 tax return.
Those who filed an electronic tax return in 2018 or 2019 may expect a direct deposit into their account on April 15th.
If the IRS does not have or is not given an individual’s ACH information, payment will be made via a check in the mail. These checks will be sent in the coming weeks.
Those who have yet to file their 2018-2019 taxes can use the IRS portal to designate a direct deposit account via this link: https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here
Those who have not filed an electronic tax return will have an opportunity to register for an electronic payment with the IRS on their website for information you can visit http://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know
Please note that the credit union will not have any information on the payments besides whether an ACH deposit was received.
We ask for your patience when contacting us. While we have taken every measure to assist our members we do anticipate high call volumes that will increase wait times.
As deposits arrive and our members who decide to withdraw funds arrive at our drive-ups we anticipate increased wait times also.
We encourage our members to make full utilization of our ATM network, on-line, mobile and other payment options to help avoid unnecessary congestion, especially at our Diamond Ave and Ross Center Branch locations. If you visit these offices over the next several days and see large lines please keep in mind that you may experience faster service by visiting one of our new offices located at 3150 Lynch Rd in Evansville or 7833 SR66 in Newburgh.
Thank you,
Mike Bledsoe
President/CEO